Looking to diversify beyond PDVAX? The mutual funds below have the lowest correlation with PDVAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PDVAX.
Best Diversifiers for PDVAX
5 mutual funds have low correlation with PDVAX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.04, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.04 | 0.27 | 0.20 | 99 | Multisector Bonds | PDVAX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.13 | 0.30 | 0.20 | 99 | Multisector Bonds | PDVAX vs NWXHX | |
| CrossingBridge Responsible Credit Fund | 0.16 | 0.22 | 0.29 | 58 | Multisector Bonds | PDVAX vs CBRDX | |
| Potomac Managed Volatility Fund | 0.25 | 0.49 | 0.33 | 55 | Multisector Bonds | PDVAX vs CRMVX | |
| CrossingBridge Low Duration High Yield Fund | 0.28 | 0.28 | 0.28 | 97 | Multisector Bonds | PDVAX vs CBLDX |
See all 14 diversifiers for PDVAX
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